Climate Change Data

Environmental Metrics

ESG Focus Areas

• Financial and personal empowerment
• Environmental sustainability
• Health and wellness
• Diversity and inclusion
• Community investment
• Ethical standards
• Corporate governance

Environmental Achievements

• Offset 2,260 metric tons of flight emissions
• Planted 25,000 trees in California
• Planted 500,000 oysters
• Employees cleaned and bagged 10,000 oyster shells for reef restoration
• Led financing on 1,700 megawatts of renewable power projects
• Incorporated environmentally friendly elements in new OneWest Bank branch (energy-efficient lighting, water filtration system, digital displays)
• Recycling efforts in Livingston, NJ facility saved the equivalent of 733 mature trees, nearly 90,000 kilowatt hours of electrical power, nearly 200 metric tons of carbon emissions and more than 340,000 gallons of water

Social Achievements

• Invested $1.9 billion in Southern California communities
• Provided 1,000+ kids with 1,600 hours of financial education
• Donated 1.5 million meals to people in need
• Packed 130,000 pounds of food for those battling food insecurity
• Donated 2,500 hours of tutoring to local Boys & Girls Clubs
• Educated women entrepreneurs in 12-week courses
• Launched Launch + Grow program for women entrepreneurs, educating 100 women
• Launched Personal Finance Empowered, a free digital financial education platform
• Invested $28.8 million in East Los Angeles to build housing for military veterans
• Financed rehabilitation of an apartment building in San Diego providing 60 new units of housing for low-income tenants
• Supported organizations like Climate Resolve and the Sustainable Connected Communities program
• CIT employees contributed 11,150 hours of volunteer time
• CIT Cares Month: 21,200 volunteer hours, 685 community projects
• Introduced Be You @CIT diversity and inclusion program
• Supported Employee Resource Groups and Diversity & Inclusion efforts
• Offered grants to employees in acute financial need through the Ittleson-Beaumont Fund

Governance Achievements

• All members of CIT’s Board of Directors are independent, except for the chairwoman and CEO
• Board’s audit, compensation, nominating & governance, and risk management committees are composed of independent directors
• Recognized by the Women’s Forum of New York, 2020 Women on Boards, and Executive Women of New Jersey for gender diversity on its board and in its senior executive team
• Designated as a Best Place to Work for LGBTQ Equality by the Human Rights Campaign Foundation

Climate Goals & Targets

Environmental Challenges

• Data protection and privacy
• Cyber-fraud prevention

Mitigation Strategies

• Educating employees and customers about best practices in safeguarding the privacy of personal data
• Continuously evaluating changing laws and technology to maximize protections for employee and customer data

Supply Chain Management

Responsible Procurement

• Increased focus on working with diverse suppliers

Climate-Related Risks & Opportunities

Awards & Recognition

• Healthiest Companies Gold Award from the First Coast Worksite Wellness Council

Environmental Metrics

ESG Focus Areas

• Governance
• Social
• Environmental
• ESG Financing
• Climate Change

Environmental Achievements

• Led financing for more than 2,800 megawatts of renewable power projects across the U.S., representing 68% growth in megawatts financed over 2019.
• Offset 100% of facility electricity usage (Scope 2) and 100% of air travel emissions (Scope 3) in 2020 through Carbonfund.org.

Social Achievements

• Contributed $2 million for support of community initiatives for people affected by COVID-19.
• Earned recognition on the First Coast Worksite Wellness Council’s (FCWWC) Healthiest Companies list as a Platinum award winner.
• Recognized by ThriveNYC as a Workplace Mental Health Champion.
• Recognized in 2020 as a Best Place to Work for LGBTQ Equality for earning 100% on the Human Rights Campaign Foundation’s Corporate Equality Index.

Governance Achievements

• Established a diversity policy and achieved a diverse board with four of twelve directors being women and four being ethnically diverse.
• Maintained robust programs to manage enterprise risks and uphold compliance with applicable laws and regulations governing ethical business conduct.
• Implemented mandatory annual training and an Annual Compliance Policy Attestation by all employees and relevant parties.
• Provided a confidential CIT Integrity Hotline and online reporting.

Climate Goals & Targets

Environmental Challenges

• COVID-19 pandemic impacting business operations and community needs.
• Cybersecurity risks and the protection of customer data.

Mitigation Strategies

• Implemented business continuity plans enabling remote working, fee waivers for customers, and enhanced pay for essential workers.
• Developed policies and invested in people, processes, and technology to protect information from cyberattacks.
• Provided enhanced pay plans for employees performing essential banking services in support of customers.

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRI Core, SASB Commercial Banks 2018 Sustainability Accounting Standard, UN SDGs

UN Sustainable Development Goals

• 7 (Affordable and Clean Energy)
• 13 (Climate Action)

Financing renewable energy projects and offsetting emissions contribute to these goals.

Sustainable Products & Innovation

• Savings Builder account

Awards & Recognition

• Platinum award winner (FCWWC)
• Workplace Mental Health Champion (ThriveNYC)
• Best Place to Work for LGBTQ Equality (Human Rights Campaign Foundation)
• Fintech Breakthrough Award (Best Personal Finance Product)
• Renewable Energy Lead Arranger of the Year (Power Finance & Risk magazine)
• Stevie American Business Award